Retirement planning

Worries about the future of Social Security and of Medicare, as well as the experience of the last market crash in 2008-9 and the housing slump, have left an increasing number of Americans worried about whether they will have adequate resources to provide for their retirement years, and are making them more open to financial advice.That’s one finding from the latest annual Survey of Worker Attitudes Towards Retirement Savings Needs conducted by the Employee Benefits Research Institute (EBRI).

Worries about the future of Social Security and of Medicare, as well as the experience of the last market crash and the housing slump, have left an increasing number of Americans worried about whether they will have adequate resources to provide for their retirement years, and are making them more open to financial advice.

With tax season behind us, advisors are looking for answers regarding IRAs and Ed Slott has some regarding rollovers and conversions, the step transaction doctrine, and Gold IRAs.

Workers used the money for emergencies, a Bankrate survey found.

The Great Recession significantly widened states’ pension and retiree health care funding shortfalls, the Pew Center on the States concluded in a report released Tuesday.

Nearly one in five Americans, 19%, have drawn on their retirement savings in the past year to cover emergencies, a survey of 1,004 adults by Princeton Survey Research Associates International for Bankrate in early April found.

Despite the recent improvements in the economy, Americans continue to grow more pessimistic about long-term retirement prospects, according to a Country Financial survey of 3,000 adults.

We’ve all got that crazy uncle. Within the financial planning community, its Thomas Leonard.

49% of respondents to the PricewaterhouseCoopers study said they find it difficult to meet their household expenses on time, up from 43% a year earlier.

While there has been talk of an economic rebound, individuals are not feeling financially secure, a survey by First Command found.

Among working Americans making at least $30,000 a year, paying bills and reducing debt are greater concerns than saving for retirement, a “Financial Wellness” survey of 1,610 adults by PwC found.

Advisors are struggling to come up with a better retirement income portfolio solution, which we believe we have found. This is not just about dividends. Inflation is a major concern long term that advisors not only need to be aware of when building retirement portfolios but must have an effective portfolio management solution.

According to the FINRA survey, in addition to these worries, fewer than half of current retirees said they were working with a financial professional to handle their retirement assets. Only one in five reported having a written plan for retirement.

The combination of a robust U.S. equity market and the proliferation of company-sponsored retirement plans helped push total assets in 401(k) pans over the $3 trillion threshold at close of last year, up 13% from 2009.

Robert Kerzner, president and CEO of LIMRA, LOMA and LL Global opened the 2011 Retirement Industry Conference with a plea to insurance professionals to familiarize themselves with the tools and sales and marketing techniques required to attract younger investors to their firms and products.

Taking advantage of opportunities will enable life insurers to play catch-up to the success mutual fund companies are enjoying, says LIMRA/LOMA CEO.

In addition, 55% don’t know how much they will need to retire.

As Boomers start moving into retirement, a huge pool of money is “in motion,” reports a study by Pershing LLC, and those financial advisors who manage to “capture the retirement relationship” with investment clients stand to gain 50% more of those clients’ wallets.

Four in 10 working Americans say they will never be able to afford to retire, a Harris Interactive survey of 1,005 adults for the American Institute of Certified Public Accountants found.

AXA Equitable has launched two new “virtual consultation” calculators accompanied with videos of licensed and experienced financial consultants to help individuals determine how much life insurance they may need and how long their retirement savings will last.